New York Laws
Article 3 - Telegraph and Telephone Corporations.
29 - Transfer of Property to Other Corporations.

§ 29. Transfer of property to other corporations. Any such corporation
may lease, sell or convey its property, rights, privileges and
franchises, or any interest therein, or any part thereof to any
telegraph, telephone or telegraph and telephone corporation organized
under or created by the laws of this or any other state, and may acquire
by purchase, lease or conveyance the property rights, privileges and
franchises, or any interest therein or part thereof of any such
corporation, and may make payments therefor in its own stock, money or
property, or receive payment therefor in the stock, money or property of
the corporation to which the same may be so sold, leased or conveyed.

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